Flaherty: No more room for rule changes
Brokers have heard it before, but the Finance minister is saying it again – this time with more conviction – arguing the government simply has no more room to play with the mortgage rules.
Do I hear 2.94 per cent?
Radius Financial formally introduced its RateWise Mortgage Monday, pointing to both its 2.94 per cent on a five-year term and its more restrictive prepayment allowances.
CMHC stands by emili’s accuracy
The CMHC is once again defending Emili from a media report suggesting the system may have put the country at risk for a U.S.-style mortgage crash.
Product News - November 2012
A bite-sized guide to the industry`s newst products as they come down the channel.
Alberta avoids Ontario broker cull
It’s a tale of two re-licensing processes, with Alberta escaping the agent cull that hit Ontario earlier this year.
Brokers blame buydowns for Scotia chop
Buying down rates not only cheapens the value of a broker’s work, but could be directly responsible for any slash to broker compensation, according to one mortgage broker.
Brokers prepared to lump it, not leave Scotia
Most brokers will opt to lump it rather than leave Scotia over its 5-basis point chop, argue some industry veterans, even as others call for a boycott.
Tough market to grow independent players, says broker
With a slowing housing market and lenders slashing compensation, the channel will likely see more brokers opting to go independent rather than work under large broker networks as a way of cutting expenses, according to one mortgage professional.
Breaking news: Scotia cuts compensation
Brokers feared this day would come, with Scotia introducing a 5 bps cut to compensation on all its five-year fixed and variable product effective Oct. 18 and following on the heels of First National’s move.
New agent to new agent: It's not all about the money
It’s a trap seasoned brokers are trying to steer young agents away from, and now one of those newcomers is offering the same warning, pointing to the need for training and support and not just high commission splits.